StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - Examine the role played by the GATT and the World Trade Organisation (WTO) in regulating international trade. What were the difficult issues it faced in the Doh

Only on StudentShare
Pages 8 (2008 words)
The General Agreement on Tariffs and Trade (GATT), first signed in 1947, was initiated to provide an international platform to promote free international trade through tariff reduction and act as a mechanism for settling trade disputes between its member nations…

Extract of sample

The agreements are arrived at through a series of negotiating 'rounds', which are named after the location where the talks take place. The current round of talks are known as the Doha Round after Doha Qatar and include negotiations on goods, services, and intellectual property.
In 1947, several nations came together in the post World War II environment to remove protectionist tariffs and foster international trade co-operation. GATT has never been recognised as an official international organisation and refers only to the body of agreements among its member nations. GATT's primary mechanism for regulating and stimulating international trade has been tariff reduction and elimination. "In the late forties, the average duty on industrial products imposed by developing countries was around 40 per cent ad valorem. As a result of the Uruguay Round and the previous Rounds, the average duty is as low as 3.9 per cent" (United Nations Conference 2003, p.45). While GATT experienced much success through the reduction of tariffs, many nations remained reluctant to enter into agreements that addressed other aspects of trade.
The initial agreements were successful not only by freezing and reducing tariffs; they also discouraged the formation of preferential trade agreements. GATT was based on the concept of the "Unconditional Most Favored Nation" (MFN) status. ...
Download paper
Not exactly what you need?

Related papers

International Business and Trade. WTO
The widest application of the protectionist movement is in the incubation of new industries which by themselves cannot survive the harsh realities if the competitive market, the idea being the protection will be withdrawn once the company is established (Iowa State university, n.d.).…
6 pages (1506 words)
Trade Impasse at WTO
This impasse represented a marked shift in the global trade scenario in the sense that it not only impinged upon the world community to reconsider the cherished concepts like free trade and protectionism, but also extended a unique perspective pertaining to these concepts, harbored exclusively by the developing nations. This dilemma was further accentuated by the fact that while India and China…
3 pages (753 words)
International Business - World Trade
Also the governments' interest in the health or the profits of the industry as well as the capitol flow which in turn affect the states' economy is highlighted in this case study.…
7 pages (1757 words)
Dispute Settlement in the World Trade Organisation
Most importantly, and despite the organisation and efficiency of the WTO in producing resolutions, there is the question of whether or not member states will follow through with panel mandates, most specifically those states with the greatest economic power. Experience so far tells us that state cooperation on panel findings may not be the norm and that attempts at retaliation by complaining…
10 pages (2510 words)
International Trade - World Trade
The first factor, the rapid advancement in information technology, which linked nations through its borderless information highways through its continuing advances and dynamism, played an important role in bridging the gap in the international trade system, primarily in the standardization of the import and export trade, in the implementation of international payment system, and in the effective…
8 pages (2008 words)
WTO and its role in establishing global trade
"There are a number of ways of looking at the WTO. It's an organization for liberalizing trade. It's a forum for governments to negotiate trade agreements. It's a place for them to settle trade disputes. It operates a system of trade rules. (But it's not Superman, just in case anyone thought it could solve - or cause - all the world's problems!)" (What is WTO, 29 September 2008) Some of the most…
3 pages (753 words)